It is rightly said that the internet is the sole creation of humans that remain beyond our very ability to understand, the largest experiment in anarchy the world will ever witness. Internet or any means of electronic mode of communication or education, as a matter of fact, has impacted each one of our lives by far and large. From something as little as grocery shopping to performing trading-related operations, mankind is strangled by this enormous virtual web in simpler terms called the Internet.
Historically, the concept of the stock market in India was introduced by the East India Company, late in the 18th century. At present, all trading related processes are handled virtually through multiple platforms and locations across borders. Gone are the days of specialty papers that held valuable information about the price and number of shares bought or sold by an individual. Internet not only carved a pavement of ease but also provided multiple-fold benefits for the stock market industry. Furthermore, the perks aggravated by the introduction of ECN, which typically means Electronic Communication Network. An ECN allows various buyers and sellers of securities, primarily stocks, and currencies, to directly access transactions with other interested parties or participants through interbank trading prices.
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Before moving on to understand the various stages that an investor goes through in an ECN driven money market, it is vital to sort a broker. ECN spares the traders with the nightmare of re-quotation. Previously, when the market was subject to frequent changes due to critical economic data, trading became a tedious task. The trader would get notified about the change in the market before having the order executed. But the tables were turned with the upbringing of the Electronic communication Network. Since scalping, which is nothing but trading multiple times during a day with the aim of earning short-term profits, is a preferred method among retail traders, everyone seeks to find ECN forex brokers for carrying the process of scalping.
We shall now be going ahead and talking about the various ECN Forex Brokers that are best suited for the purpose of scalping in the year 2020.
- Pepperstone: it is one of the most sought after MT4 brokerage services providing company. It offers the most accurate and suitable conditions to anybody willing to go about scalping the forex market for a profit. The Razor amount is just right for it. Also, very constrained spreads irrespective of the fluctuations in the market or the overall market scenario. An additional perk while trading with Pepperstone is the wide range of features to choose from allowing one the opportunity to seek insights from other participants.
- IC Market: it offers its participants or clients to very conveniently access or accrues benefits of immediate liquidity from a selected range of tier-1 banks but also the other way around which in turn allows the ECN accounts to be more than just suitable for the purpose of scalping. IC Market makes it to the second spot by using the “feeds” liquidity feature from a whooping fifty bands and other dark sources of the pool. Moreover, the regulatory framework can be claimed as highly trustworthy as it is overseen by both ASIC and CySEC.
- HotForex: this is another leading foreign exchange trading company that also allows scalping in the industry. HotForex allows several kinds of trading accounts as per the preference of liking of the trading type or style. For an ECN type of account, MT4 is suggested to be your go-to option with a $4 commission per traded lot with a spread that is close to zero or even lesser. All the above-mentioned points are what makes HotForex one of the best ECN Forex brokers in the industry for the purpose of scalping. HotForex has also managed to create a profound name in the industry at a global level with its wide variety of deposit methods and availability of multiple base currencies that ensures free and accessible trading all at a minimum deposit.
- Admiral Markets: with its cutting-edge technology application at the core of Admiral Brokers in terms of their order execution, this brokerage service firm is one of the best in the league of ECN Forex Brokers for scalping. Channelizing flows from multiple distinctive banks and avenues into one individual pool allows this brokerage firm to offer some incredible spreads for the various currency pairs. An investor entitled to this company will always stand the best chance of never having to miss out on any market movement. Courtesies its transparency towards its clients and oversight by both the regulatory bodies namely FCA and CySEC, Admiral Forex wins greater confidence from its clients.
- Vantage FX: Another profound name added to the list of industry owners is Vantage FX which happens to be a highly accredited and trusted forex scalping brokerage firm based in Australia. What makes Vantage FX so peculiar is the tight spread offer along with the availability of numerous account types which makes this the most perfect brokerage service company for scalping. Trading here can be allowed alike along with scalping through both MT4 and MT5 trading platforms. This very company offers trading allowance in more than 150 recognised CFD markets which are inclusive of 40 forex currency pairs with forex spread starting from 0 pips.
- Grand Capital: providing the best quotations to their clients through highly trusted liquidity contributor like Currenex and Swissquote. Grand Capital reaches the notch with their very distinctive ECN Prime Account which is best suited for scalping the Forex Market. They seem like just the perfect trading platform to go about pursuing your account, with the most basic requirement of a stable internet connection being the only prerequisite to accrue benefit through this Market Maker ECN broker. Here one can find an extremely low spread impeccable for scalping. They also offer a 40% welcome bonus to their clients on every new introduction.
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The key takeaway while choosing the right ECN Forex broker for scalping in the year 2020 would be to enlist the number of forex brokers as per your interest and evaluate various brokers on a number of criteria. It is suggested that you choose a few brokers before going about pursuing your conquest and select the one that attracts you’re the most as per your requirements and goals.